Property in: LONDON

Shared ownership

What is Shared Ownership Scheme? It is a buying scheme that allows buying a share of the desired property and then paying rent to a landlord on the rest of its value.

Typically, buyers opt for the shared ownership scheme when they cannot afford a deposit combined with mortgage repayments for a desired home.

Shared Ownership Eligibility

Requirements, perks, and rules for the scheme differ across the regions, but there are several common guidelines:

  • The scheme allows buying a share between 10% and 75% of the property market value.
  • A buyer is over 18 years old, UK national or have the right to live in the UK permanently.
  • Purchaser's household income must be below £80,000 per year (or £90,000 per year in London).
  • A buyer pays the rent on the rest of the property value to the landlord.
  • Buyers also often pay ground rent and service charges (maintenance, community areas, etc.)

Shared Ownership Property Requirements

Not all property across the UK, including London, is suitable for buying via shared ownership. These are the main requirements:

  • It can be a new-build home.
  • It can be an existing property via the shared ownership resale scheme.
  • It can be a home suited for a specific need, for instance, buyers with long-term disabilities.
  • Most importantly, note that Shared Ownership homes are offered by housing associations, developers, local councils, and similar organisations. These are the providers or the landlords to whom rent is paid.

Also, all shared ownership homes are leasehold properties.

More information

Sales office

Buying Your Property Share

Typically, Shared Ownership means buying between 25% and 75% of the property value. However, several properties offer 10% ownership.

Buyers can take a mortgage to buy this share or pay with savings. Note that it is required to pay a deposit (5%-10%) on the share you are going to buy.

Unsurprisingly, the scheme allows buying more property shares in the future, known as staircasing. Put simply, owning more means paying less rent as its amount depends on the landlord's share.

Shared Ownership Application Requirements

There are several eligibility requirements for buyers interested in Shared Ownership properties.

Both of the following have to be true:

  • Your total household income is below £80k per year (£90k in London).
  • You cannot afford a deposit and a full mortgage on a home that meets our needs.

In addition, one of the following should apply:

  • You are a first-time property buyer (FTB).
  • You are currently forming a new household.
  • You own a shared ownership property and wish to move.
  • You own a home and want to move, but you cannot afford a desired property.

Note that some Shared Ownership properties imply that you need to live or work in the area (or have some connection to it) where you are buying a home.

Shared Ownership Explained Step-by-Step

The process of buying a new Shared Ownership home in London typically goes like this:

  1. Research available shared ownership properties in London and check your eligibility.
  2. Reach out to the developer and apply for a shared ownership property.
  3. Secure a mortgage and deposit with a lender approved by the scheme.
  4. Complete the legal processes with solicitors (typically provided by the developers) and pay associated fees, including stamp duty (if applicable).
  5. Move into the new property and pay rent on the remaining property share while having the option to buy more shares in the future. It is known as "staircasing".


Other types of properties available for sale:

On our website, you can find the perfect apartment for you.

Properties for sale in London
Studio flats for sale in London
1 Bedroom apartments in London
2 Bedroom apartments in London
3 Bedroom apartments in London
4 Bedroom apartments in London
5 Bedroom apartments in London
Shared ownership in London

There are so many neighbourhoods in London. If you are still undecided, have a look at one of these. Only up-to-date offers for you. Choose where your dream home will be!

Properties for sale in Central London
Properties for sale in East London
Properties for sale in North London
Properties for sale in West London
Properties for sale in South London
Properties for sale in North-West London
Properties for sale in South-East London
Properties for sale in South-West London

Shared ownership homes in London

All Shared ownership properties for sale →

Frequently Asked Questions


How to find Shared Ownership houses in London? 

1newhomes allows a quick and efficient search for shared ownership homes in London. Select the filters and get a tailored selection of new builds available via this scheme.

Can I sell a Shared Ownership Home? 

Yes, it is possible to sell your shared ownership home at any time. If you own less than 100%, you need to inform the landlord, and he will find a buyer within a specified time (set out in the lease). You can then sell the share on the open market in case the landlord cannot find a buyer.

Owning 100% allows selling a shared ownership home at any time on the open market.

How does Shared Ownership Work in London?

The scheme works similarly in London and across the UK, but there are subtle differences. For instance, the maximum annual household income requirement for shared ownership properties in London is £90k instead of £80k.

Also, new builds in London are more expensive, meaning shared ownership homes will also require higher deposits, mortgage payments and rents. In addition, these homes are typically provided by housing associations specialising in affordable houses, and they may have various extra policies and procedures.

Is Shared Ownership in London good?

Shared Ownership is a beneficial option for those who find it challenging to gather a complete deposit for their first property. This approach offers significant advantages, such as reduced rent payments, government support, and lower initial costs.

Moreover, Shared Ownership grants you the benefit of greater certainty. By investing your available resources now, you can rest assured that you are actively progressing towards your goal of becoming a homeowner.

Who Can Qualify For Shared Ownership?

To be eligible for the Shared Ownership scheme, you must meet the following criteria:

  • You must be at least 18 years old.
  • You must be a first-time buyer, or if you have previously owned a home, you can qualify if you can no longer afford to possess a property.
  • Your household income should be below £80,000 per year.
  • Additionally, there are certain checks ensuring your ability to manage the monthly expenses and other associated charges. This process entails a mandatory financial interview conducted by an independent financial advisor. 



Can You Be Kicked Out Of Shared Ownership?

Being a shared ownership homeowner provides security, as you cannot be evicted from your home like a regular tenant. Since you own a portion of the property, the housing association does not have the authority to carry out an eviction if, for instance, you encounter difficulties in making rental payments.

However, it is essential to note that, in particular circumstances, the housing association may file a court order. Among them could be repeated non-payment or substantial damage to the property. 

What is Staircasing & How Does It Work?

Staircasing is an option available to residents of Shared Ownership properties after a specified duration, as per the conditions in their lease agreement. It refers to the process where you can purchase additional shares in your property beyond the initial share.

For instance, if your first buy was a 25% share, acquiring another 25% later would increase your ownership to 50%. This method, known as staircasing, enables shared owners to progressively increase their stake in the property, often up to full 100% ownership.

Need help finding your new home?
Need help finding your new home?

Leave a request and specialists will select the property

By submitting this form, you accept our Terms & conditions & Privacy policy Please note that 1newhomes will send the above details to house developer or agent. This site is protected by reCAPTCHA and the Google.

We use our own and third-party cookies to collect data related to your activity on our site for analysis and to improve your experience. By continuing to use our site, you consent to the use of these cookies. Learn more